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A Segment That Is Far From Hot
itsnotjustme
Posts: 8,788 ✭✭✭
It appears the bottom has fallen out of much of the 1950s-1970s proofs. Examples:
1959 Proofs. I can't get a $45 openeing bid on a 1959 PR67CAM Washington when I was getting $150+ 2 years ago. I PR68CAM of the same won't open at $150, but drew well over $200 a couple years back. A PR67CAM Roosevelt barely covers slabbing costs. A PR68 Roosevelt does not cover slabbing cost. A PR67Franklin goes for $15. A PR67 Jefferson below 10.
I bought a PR67DCAM 1963 and PR67CAM 1960 Franklin for $178 combined.
I bought a PR69DCAM 1970-S Roosevelt for only $32.
PR69DCAM Ikes, both clad and silver, have also plummeted.
Is anyone else noticing the same?
1959 Proofs. I can't get a $45 openeing bid on a 1959 PR67CAM Washington when I was getting $150+ 2 years ago. I PR68CAM of the same won't open at $150, but drew well over $200 a couple years back. A PR67CAM Roosevelt barely covers slabbing costs. A PR68 Roosevelt does not cover slabbing cost. A PR67Franklin goes for $15. A PR67 Jefferson below 10.
I bought a PR67DCAM 1963 and PR67CAM 1960 Franklin for $178 combined.
I bought a PR69DCAM 1970-S Roosevelt for only $32.
PR69DCAM Ikes, both clad and silver, have also plummeted.
Is anyone else noticing the same?
Give Blood (Red Bags) & Platelets (Yellow Bags)!
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Comments
Cameron Kiefer
The proof market started down last spring and through the summer
I enjoyed it last winter, but not now
Glen
For 2003, MS67 quarters are hot. I sold 7 date/mint combinations of 2003 quarters last night. Prices were from a low of $49.88 to a high of $142.50.
Agree with your assessment for prior years except 1999 MS67.
I had a 92 Silver Washington, 69DCAM go for $5.59 this weekend....wooohooo!!
Some of the low pop stuff is still doing ok but the common ones may as well be put in a candy machine
<< <i>I've noticed that too and am perplexed as to why. >>
Maybe there's more of them now.
just remember, your loss is my gain!!
al h.
Proofs except for the pre 1955 stuff have rarely done well. Sure, the real rarities to stick with are the no-s proofs which continue to do well or other very selected modern proofs. You need to be selective with rarities if you want to buy at reasonable prices with small downside risk.
The new collectors are realizing this and are moving onto bigger and better things including older proofs and mint state versions.
I must confess to being both shocked and mildly amused.
"The new collectors are realizing this and are moving onto bigger and better things including older proofs and mint state versions"
I've never been terribly adept at predicting social trends, but 3 years ago it sure seemed likely this would happen.
<< <i>
<< <i>I've noticed that too and am perplexed as to why. >>
Maybe there's more of them now. >>
Well there a few people on this board alone that buy proof sets and cherrypick them then slab and sell them.
I think the segment is maturing and taking it's rightful place alongside classic coinage. The population is becoming better understood, and the true "keys" are faring pretty well, while the others aren't. It's a healthy thing. I don't see it as a sign modern are suffering. I see it as a sign moderns are becoming mainstream. Certain coins, like 72-P Ikes in supergem will always command a huge premium because collectors who have spent years now within that series know their worth. The same is true for perhaps a dozen other coins. A 1950 Washington in dcam comes to mind. For the Kennedy collectors, the 65 SMS half in dcam. Current thinking even within certain classic series is that proofs are supposed to be superb, and in many cases many classic proofs are considered "undervalued" by their collector base. Many of the proof Barbers go wanting. The 36-42 proof coins are always an amazement to me.
I think we're seeing the real specialist retake the modern segment. To me, that's as it should be, and I see it as a breath of fresh air. How many serious modern collectors are there? I'd guess more than many think, but less than the current pricing indicates. The sooner the real coins emerge, the sooner the segment will gain the acceptance and respectability it deserves. I already miss the old days, when every dealer thought everything minted since 1940 was pocket change.
and it sets us apart from practitioners and consultants. Gregor
For "classic" coins the survival retes are lower, but offsetting that is the fact that most collectors don't collect them by date and mint mark. The main exceptions are Morgan dollars, Indian cents, Liberty nickels and the Barber coinage. There are many dates in the seated series and earlier that are quite scarce. But since most collectors are mainly looking for type coins, their rarity usually goes unnoticed.
I'm not beating the drum for these overlooked Classic coins, because I think that their markets will contine to doze for the foreseeable future. A good rule of thumb is that the older a coin gets the lower the general interest in it.
For example the Buffalo dollar was a hot item when it was first issued. Now its still a good item, but interest is not as intense as it was. I predict that it will settle into a nitch when it will remain. It will be a better than average performing coin for its mintage, 500,000, which is pretty high for a modern commemorative silver dollar, but it will not be an "all star" again anytime soon. The same situation is more readily appearant for run of the mill proof sets from '60s, '70s and '80s. Many of those sets had hot streaks when they were issued, which will never be seen again.
<< <i>I had a 92 Silver Washington, 69DCAM go for $5.59 >>
I am willing to buy any PCGS PR 69 DCAM date in any denomination I don't already own for $6. Don't let them go for less!
I don't know about that, all I know is that all the later date holes in my collection have been long filled, and there are plenty of coins available if I want to buy duplicates or upgrade. Moderns (I define as post-WW2) are everywhere! Meanwhile, I can't find any decent small eagle draped bust coins or early copper, to save my life, and those holes in my collection are still empty. I am still occasionaly able to upgrade coins in the 1836-1873 period, but am consistently outbid on choice early coins.
Liberty: Parent of Science & Industry
<< <i>
I don't know about that, all I know is that all the later date holes in my collection have been long filled, and there are plenty of coins available if I want to buy duplicates or upgrade. Moderns (I define as post-WW2) are everywhere! . >>
Yes. Moderns are everywhere!!!!!!!!! They've made many billions of coins since WWII (.5 trillion)
and large numbers are still in existence. People spend moderns nearly every day. Banks are
loaded with them.
What grade is your 1964 clad quarter in? I'm looking for one cheap and just a nice attractive VF
will do. How about your '82 NMM dime? I'm looking for a nice upgrade if you got it. How about
your '83-P quarter. Is it really unc? Choice? Gem?
Not that there's anything wrong if you don't collect all these. To each his own.
1968-S PCGS PR68DCAM PROOF LINCOLN CENT - $28.00
1968-S Jefferson Nickel PCGS PR68DCAM - $17.50
1968-S Roosevelt 10c PCGS PR69 DCAM - $57.00
1968-S PROOF KENNEDY PCGS PR68DCAM $25.49
Russ, NCNE
True! True! Moreover, it's Christmas, and people just NEED to get their moneys worth. Just think of all the YNs out there(1 day to 4 to 5 years old), whose parents MUST take the FRUGAL route this year to put those little stocking stuffers(holdered singles, usually proof...no MS biggies) together to start their kiddies off in the right direction. "Supply and demand" is down since 911. Parents are getting wiser! Just THINK about it!...